Petrobras makes a second light oil discovery in the Santos basin

Petrobras has confirmed the presence of oil in sandstone reservoirs following the drilling of well 1-BRSA-658-SPS (1-SPS-57) in the south of the Santos basin.

Offshore staff

RIO DE JANEIRO -- Petrobras has confirmed the presence of oil in sandstone reservoirs following the drilling of well 1-BRSA-658-SPS (1-SPS-57) in the south of the Santos basin. The company believes that this find substantiates the good light oil potential in the shallow offshore sections of the basin.

The 1-BRSA-658-SPS well is located in the S-M-1289 block, part of the BM-S-40 concession, in which Petrobras holds a 100% interest. The block is situated about 200 km (124 mi) off the coast of the state of São Paulo in a water depth of 274 m (899 ft). The block is also 9.3 km (5.8 mi) from the first find made there by well 1-SPS-56, in the Tiro pioneering prospect, announced in May of this year.

The reservoirs are of the sandstone type and located at an approximate depth of 2,060 m (6,759 ft) and similar to recent finds by well 1-BRSA-607-SPS (1-SPS-56), the company says. Productivity of the reservoirs is to be assessed with immediate effect through a well formation test.

While still at a preliminary stage of evaluation, based on the two wells and anomalies in the seismic data, the company estimates recoverable volumes of oil in this area at approximately 150 MMboe.

09/29/2008

More in Drilling & Completion